The Internet-of-Things (IoT) has already had a tremendous impact in the world of retail, which it is quietly revolutionizing. By the year 2025, IoT in retail could be worth US$ 94 billion according to business intelligence provided by GrandView Research. One such trend is that due to the use of Amazon Go and Zippin, plus initiatives by startups to replace cashiers with cameras, the days of the cashiers seem numbered. IoT is also helping retail outlets in better management of the inventory leading to reduced shrinkage and the supply chain getting streamlined. Beacons are helping the sales process through the use of Bluetooth devices that send event invites or discount coupons to nearby smartphones which have the relevant apps downloaded. While online retail is taking away a chunk of the traditional retail space, ambient commerce is thriving. This is the marriage of the two by combining AI technology and sensors in a physical store setting. Consumer IoT devices have gotten better as can be inferred from the Mozilla Foundation’s list. In- car retail is another development set to come up, especially with the rise of autonomous vehicles.

Source:https://www.networkworld.com/article/3324484/internet-of-things/6-ways-iot-is-transforming-retail.html

Uploaded Date:28 December 2018